Ingevity Corp (NYSE:NGVT) Position Lessened by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System lowered its position in Ingevity Corp (NYSE:NGVT) by 29.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,100 shares of the company’s stock after selling 4,668 shares during the period. Louisiana State Employees Retirement System’s holdings in Ingevity were worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. acquired a new position in shares of Ingevity in the 4th quarter valued at $25,000. ETF Managers Group LLC boosted its holdings in shares of Ingevity by 17.4% in the 4th quarter. ETF Managers Group LLC now owns 1,793 shares of the company’s stock valued at $150,000 after purchasing an additional 266 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in shares of Ingevity in the 4th quarter valued at $177,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Ingevity in the 3rd quarter valued at $205,000. Finally, LPL Financial LLC boosted its holdings in shares of Ingevity by 4.7% in the 4th quarter. LPL Financial LLC now owns 2,558 shares of the company’s stock valued at $214,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 94.57% of the company’s stock.

Ingevity stock traded down $0.15 during midday trading on Friday, hitting $98.03. 242,792 shares of the stock were exchanged, compared to its average volume of 250,380. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.71 and a beta of 1.61. Ingevity Corp has a 1 year low of $74.98 and a 1 year high of $120.41. The company has a debt-to-equity ratio of 4.03, a current ratio of 2.29 and a quick ratio of 1.14.

Ingevity (NYSE:NGVT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. Ingevity had a net margin of 13.70% and a return on equity of 53.81%. The business had revenue of $276.80 million during the quarter, compared to the consensus estimate of $288.07 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The company’s revenue for the quarter was up 17.7% compared to the same quarter last year. Analysts forecast that Ingevity Corp will post 4.79 earnings per share for the current fiscal year.

In other news, CFO John C. Fortson sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $114.46, for a total value of $2,060,280.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Phillip John Platt sold 2,725 shares of the company’s stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $114.07, for a total transaction of $310,840.75. Following the completion of the sale, the chief accounting officer now directly owns 1,137 shares of the company’s stock, valued at $129,697.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,125 shares of company stock valued at $2,876,065. Insiders own 0.60% of the company’s stock.

Several equities analysts recently weighed in on NGVT shares. Zacks Investment Research lowered shares of Ingevity from a “buy” rating to a “hold” rating in a report on Tuesday, February 5th. Oppenheimer set a $110.00 target price on shares of Ingevity and gave the company a “buy” rating in a report on Thursday, February 14th. ValuEngine upgraded shares of Ingevity from a “hold” rating to a “buy” rating in a report on Thursday, February 14th. Finally, Loop Capital lifted their target price on shares of Ingevity to $104.00 and gave the company a “hold” rating in a report on Friday, February 15th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $102.44.

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Ingevity Company Profile

Ingevity Corporation manufactures and sells specialty chemicals and carbon materials in the United States and internationally. The company operates through two segments, Performance Materials and Performance Chemicals. The Performance Materials segment engineers, manufactures, and sells hardwood-based and chemically activated carbon products primarily for use in gasoline vapor emission control systems in cars, trucks, motorcycles, and boats.

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Institutional Ownership by Quarter for Ingevity (NYSE:NGVT)

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